Rexford Industrial Realty (NYSE:REXR) Given New $47.00 Price Target at Scotiabank

Rexford Industrial Realty (NYSE:REXR) had its target price dropped by Scotiabank from $48.00 to $47.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential upside of 13.60% from the stock’s previous close.

A number of other research analysts have also commented on REXR. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target for the company. Barclays dropped their price target on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Mizuho dropped their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.67.

Rexford Industrial Realty Stock Performance

Shares of REXR traded up $0.59 during trading hours on Friday, reaching $41.38. 2,845,729 shares of the company traded hands, compared to its average volume of 2,010,416. The stock’s fifty day moving average is $39.70 and its 200 day moving average is $44.01. The stock has a market cap of $9.43 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. Rexford Industrial Realty has a 1-year low of $36.92 and a 1-year high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Equities research analysts anticipate that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of Rexford Industrial Realty

Several hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Rexford Industrial Realty by 4,835.8% during the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 2,563 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rexford Industrial Realty by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,455 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 2,182 shares during the last quarter. abrdn plc grew its stake in shares of Rexford Industrial Realty by 9.2% during the third quarter. abrdn plc now owns 42,834 shares of the real estate investment trust’s stock valued at $2,155,000 after purchasing an additional 3,602 shares during the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Rexford Industrial Realty during the third quarter valued at approximately $228,000. Finally, US Bancorp DE grew its stake in shares of Rexford Industrial Realty by 13.8% during the third quarter. US Bancorp DE now owns 5,402 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 653 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.